1341 Pennsylvania Minority Business Development Authority; revolving loan fund capitalization program

DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT

Pennsylvania Minority Business Development Authority; Revolving Loan Fund Capitalization Program

[35 Pa.B. 3950]

   The Department of Community and Economic Development (Department), through the Pennsylvania Minority Business Development Authority (PMBDA), gives notice of the establishment of the Revolving Loan Fund Capitalization Program to assist PMBDA with its primary mission of stimulating the creation, retention and expansion of minority owned businesses and to create jobs in this Commonwealth. PMBDA seeks to take advantage of successful programs already in existence in this Commonwealth and to partner with organizations engaged in these programs by providing funds with nominal interest payments and extended repayment terms. Eligible applicants are: (1) community development financial institutions which are certified in accordance with the Community Development Banking and Financial Institutions Act of 1994 and which have operated a revolving loan fund for at least 12 months; and (2) community-based revolving loan funds operated by nonprofit, community-based corporations that have as a purpose the promotion of business development within the communities that they serve.

   Program inquiries and requests for hardcopy applications should be directed to the Pennsylvania Minority Business Development Authority, Department of Community and Economic Development, 4th Floor, Commonwealth Keystone Building, 400 North Street, Harrisburg, PA 17120-0225, [phone], fax [phone], [e-mail].

DENNIS YABLONKSY,   
Secretary

[Pa.B. Doc. No. 05-1341. Filed for public inspection July 15, 2005, 9:00 a.m.]